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Andela Announces $200M Investment Led by SoftBank

By African Media Agency
30 September 2021   |   12:00 am
The Series E financing values the global engineering network at $1.5 billion LAGOS, Nigeria, 29 September 2021 -/African Media Agency(AMA)/- Andela, the global network for remote engineering talent, today announced $200 million in Series E financing that values the company at $1.5 billion.The round was led by Softbank Vision Fund 2* with participation from new investor Whale…

The Series E financing values the global engineering network at $1.5 billion

LAGOS, Nigeria, 29 September 2021 -/African Media Agency(AMA)/- Andela, the global network for remote engineering talent, today announced $200 million in Series E financing that values the company at $1.5 billion.
The round was led by Softbank Vision Fund 2* with participation from new investor Whale Rock and existing investors including Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital. Lydia Jett, Founding Partner at SoftBank Investment Advisers and one of the most respected consumer technology investors in the world, will join Andela’s Board of Directors.

Andela helps companies build remote engineering teams by providing them with access to the best software engineers in the world. Launched in Africa in 2014, the Andela network today represents engineers from more than 80 countries and six continents. Through Andela, thousands of engineers have been placed with leading technology companies including Github, Cloudflare and ViacomCBS. 

“Andela has always been the high-quality option for those building remote engineering teams. Now that the world has come to embrace remote work, Andela has become the obvious choice for companies because we can find better talent, faster,” says Jeremy Johnson, CEO and co-founder of Andela. “If you are a talented engineer, Andela opens up a world of possibilities for you, no matter where you are based.”

Jeremy Johnson, CEO and co-founder of Andela

With a successful placement rate of 96%, Andela has mastered the ability to evaluate the technical skills and soft skills of engineers to match them to the teams they’ll be most successful in. With the new capital, the company will invest in developing products to simplify global hiring and make engineers’ lives easier. In addition, Andela will continue to expand its talent offering beyond software development to include new verticals such as design and data after launching Salesforce development earlier this year.

“Hiring remote technical talent is one of the top challenges that companies face today. We believe Andela will become the preferred talent partner for the world’s best companies as remote and hybrid work arrangements become the norm,” said Lydia Jett, Partner at SoftBank Investment Advisers. “We are delighted to support Jeremy and the Andela team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential at scale.”
“This new round of funding enables Andela to strengthen our already extensive network of incredible talent in Africa and across the world, as we systematically connect the best software engineers with global opportunities”, says Agnes Muthoni, Director of the Andela Learning Community at Andela. “Being backed by a diverse group of renowned and experienced investors is a testament to the growing importance of remote work, and how Andela is at the forefront of helping companies scale their engineering teams at a rapid pace”.

A fully remote organization with more than 300 employees around the world, Andela is hiring top talent across the board, particularly in Product, Engineering, and Growth.

For more information about Andela, visit andela.com.

 Distributed by African Media Agency on behalf of Andela.

For additional information, please contact comms@andela.com

About Andela

Andela is a global talent network that connects companies with vetted, remote engineers in emerging markets. Hundreds of leading companies like GitHub, Cloudflare, and ViacomCBS leverage Andela to scale their engineering teams quickly and cost-effectively. A distributed organization spanning six continents, Andela is backed by investors including Generation Investment Management, Chan Zuckerberg Initiative, Spark Capital, and Google Ventures.

*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.

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